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CIBC plans buffered return enhanced notes linked to Euro Stoxx 50
By Marisa Wong
Morgantown, W.Va., March 22 – Canadian Imperial Bank of Commerce plans to price 0% buffered return enhanced notes due March 28, 2019 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is zero or positive, the payout at maturity will be par plus 200% of the index return, subject to a maximum return of at least 32%.
If the index falls by up to 15%, the payout will be par.
If the index falls by more than 15%, investors will lose 1.17647% for every 1% decline beyond the buffer.
BNP Paribas Securities Corp. is the agent.
The notes will price on March 23.
The Cusip number is 13605WCP4.
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